Equities analysts expect that Obalon Therptcs (NASDAQ:OBLN) will announce $2.95 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Obalon Therptcs’ earnings, with the highest sales estimate coming in at $3.31 million and the lowest estimate coming in at $2.60 million. Obalon Therptcs reported sales of $770,000.00 during the same quarter last year, which indicates a positive year over year growth rate of 283.1%. The firm is expected to report its next quarterly earnings report on Friday, November 10th.
According to Zacks, analysts expect that Obalon Therptcs will report full-year sales of $2.95 million for the current fiscal year, with estimates ranging from $9.40 million to $10.37 million. For the next fiscal year, analysts expect that the firm will report sales of $21.34 million per share, with estimates ranging from $18.19 million to $24.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Obalon Therptcs.
Obalon Therptcs (NASDAQ:OBLN) last posted its earnings results on Wednesday, August 2nd. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.03). The company had revenue of $1.96 million for the quarter, compared to analyst estimates of $1.77 million. Obalon Therptcs had a negative return on equity of 108.07% and a negative net margin of 566.87%.
A number of equities analysts have weighed in on the stock. Northland Securities assumed coverage on shares of Obalon Therptcs in a research report on Wednesday, June 21st. They set an “under perform” rating and a $6.00 target price for the company. Zacks Investment Research upgraded shares of Obalon Therptcs from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Finally, UBS AG reissued a “buy” rating and issued a $20.00 price target (down from $22.00) on shares of Obalon Therptcs in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Obalon Therptcs has an average rating of “Hold” and an average target price of $16.20.
Obalon Therptcs (NASDAQ OBLN) traded down 0.73% during mid-day trading on Friday, hitting $9.46. 11,572 shares of the stock were exchanged. Obalon Therptcs has a 52 week low of $7.98 and a 52 week high of $14.57. The company’s market capitalization is $159.16 million. The stock’s 50-day moving average is $9.83 and its 200 day moving average is $9.83.
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Institutional investors have recently made changes to their positions in the company. Nicholas Investment Partners LP purchased a new stake in shares of Obalon Therptcs in the first quarter worth about $626,000. William Blair Investment Management LLC lifted its holdings in shares of Obalon Therptcs by 168.9% in the second quarter. William Blair Investment Management LLC now owns 329,643 shares of the company’s stock worth $3,267,000 after buying an additional 207,041 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Obalon Therptcs by 15.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 625,729 shares of the company’s stock worth $6,689,000 after buying an additional 85,594 shares in the last quarter. Wetherby Asset Management Inc. purchased a new stake in shares of Obalon Therptcs in the second quarter worth about $238,000. Finally, Kornitzer Capital Management Inc. KS lifted its holdings in shares of Obalon Therptcs by 0.5% in the second quarter. Kornitzer Capital Management Inc. KS now owns 422,410 shares of the company’s stock worth $4,186,000 after buying an additional 2,075 shares in the last quarter. 44.97% of the stock is currently owned by hedge funds and other institutional investors.
Obalon Therptcs Company Profile
Obalon Therapeutics, Inc is a United States-based commercial-stage medical device company focused on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. The Company’s product, Obalon balloon system, is a swallowable, gas-filled intragastric balloon designed to provide weight loss in obese patients.
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